I mean it depends on how many digits you want to round to, but 1.16666667 does round to 1.167 if you want 3 digits after the decimal point! Also you're correct in saying 1.6666666667 rounds to 1.67 if we want 2 decimal places.

Basically, depending on how precise we want to be, we could round 1.16666667 to lots of things, e.g. 1.166667, 1.16667, 1.167, or even 1.17 or 1.2 if we only want a really rough estimate.

How many decimal places you want to give will depend on the context - if I want to tell someone what 7÷6 is roughly, I might say "it's about 1.167" or even "it's about 1.2", but if someone wants 7÷6 to *5 decimal places*, say, I would give the answer "7÷6=1.16667 (5 d.p.)". That "(5 d.p.)" bit lets the reader know you've rounded it to 5 decimal places - it's not the exact answer.

If you want to write the decimal out, but don't want to round, you can write 7÷6=1.16, but then put a dot or a line above that 6 to indicate it repeats forever. Or just write 7÷6=1.1666... - that's just as clear! (but maybe not what you're asked for)